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  • 13 hours ago
Australia became the first country to ban social media for children under 16, forcing major platforms to block access or face heavy fines. The law targets bullying, misinformation, and body-image harm, with companies relying on age-verification tools to comply.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Australia became the first country to ban social media for children under 16 on Wednesday,
00:07according to Reuters. The ban orders 10 major platforms, including TikTok, YouTube, Instagram,
00:13and Facebook, to block access or face fines of up to $33 million.
00:18Prime Minister Anthony Albanese said the law empowers families and addresses online harms
00:23such as bullying, misinformation, and damaging body image content.
00:27One million children were expected to lose access as the ban took effect,
00:31prompting teens to post farewell messages.
00:34Several countries signaled interest in studying Australia's model as a test case for stricter age gating.
00:40Companies plan to use age inference tools, selfie-based estimation, and ID checks to enforce the law.
00:45For all things money, visit Benzinga.com.
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